In Order to Maximize Its Profit in the Short Run,an

question 11

Multiple Choice

In order to maximize its profit in the short run,an airline should offer an additional flight whenever

• A)its marginal revenue exceeds its sunk costs
• B)it marginal revenue exceeds its average total cost
• C)the average seat price exceeds its sunk costs
• D)the average seat price exceeds its average total cost
• E)the additional revenue exceeds the additional costs

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Definitions:

Consumption

The use of goods and services by households, which involves the selection, purchase, use, maintenance, and disposal of products.

Electronic Meetings

Meetings conducted using technology such as video conferencing or webinars to connect participants from different locations in real-time.

Group Rapport

The harmonious relationship and understanding among members of a group, fostering a sense of trust, belonging, and cooperativeness.

Consensus

A general agreement or shared understanding among members of a group.